Anglo African Oil & Gas Share Discussion Threads

[pinkfoot2] 20/11/2018 07:48

According to a rather excellent Finncap report this morning,drilling starting again this week.The have adjusted their share price forecasts down from 40p to 38p for the drawdown.

[money4me] 19/11/2018 21:46

market went belly up todat. RED across the board nearly

[cashandcard] 19/11/2018 16:22

No I have not, I await results here - like everyone, before considering whether there is a future. Staying out of most stocks at the moment. My PF has very little exposure to markets generally. The macroeconomic situation and wider tensions across globe mean there are too many uncertainties and that has led to volatility and we are due a market downturn very soon anyway - they run almost perfectly in 10year cycles.

The reason I got out of here was because of the CLN's. I am yet to come across a minnow who has not seen pressure on the equity in and around a drawdown.

Cash

[croxonopolis] 19/11/2018 16:06

Did you buy back in Cash?

It's been one of the worst pre drill episodes I've been in. Endless bad news. I've sort off written off my investment here. Imagine if they don't find oil in Mengo! I'll hold for the drill but don't expect much good news to be honest.

If there is no news this week about the drill turning again, then something is definitely amiss. There is just something that doesn't seem right here at the moment. I knew it was bad news when I saw the RNS this morning before even reading it. That large sell Friday pointed to it. I should have bailed when you did cash. Foolish to have stayed really when cln news was released.

[cashandcard] 19/11/2018 14:05

They have spent £16mln since IPO and drawing the first £1mln of a £5mln facility.

They MUST show something for all that money spent and soon.


Cash

[stevie050] 19/11/2018 13:12

Looking more like another AIM load of garbage. Everything the board says or does seems to be b*llocks

[kibes] 19/11/2018 12:52

Is the Issue date for the CLNs today? If so it would be in Sandabel's interest to sell short to get the price as low as possible - the lowest price will be what they can convert at. Or is the Issue date tomorrow?

[honestmarty] 19/11/2018 11:28

A difficult time for believers.
Yes, any positive news at this point will see this fly
But the run of bad or poor news has been relentless.

[honestmarty] 19/11/2018 10:13

Buying a few more.

The bounce is coming I hope.

[croxonopolis] 19/11/2018 10:04

Puts that proactive interview into prospective now. The one where Sefton is Uber bullish and says "there will be no diluting funding"

Well here it is. Here is the empirical evidence.

But of course....Yet more Uber bullish words "compelling drill". It's all words in the wind.

They better get that drill turning asap and give an up date on compensation for drill downtown and time scales.

I have zero faith in Sefton now, as he's not been very honest of late.

I also have a feeling something just ain't right at the moment.

[eodfire] 19/11/2018 09:04

Not looking good. Could go lower if no rns.

[apfindley] 19/11/2018 08:51

I expect a drilling rns to follow very soon, likely sometime today, or latest 7am tomorrow.

[cashandcard] 19/11/2018 08:48

Ianio5691,


Can't disagree with you. Its why I moved on the day the CLN facility was announced.

The only way to redeem the equity now is via results.

This is it, they must deliver the R1/2 as expected and (atleast) the Mengo aswell.


Cash

[ianio5691] 19/11/2018 08:37

An RNS that drilling has re-commenced would be nice.

[pro_s2009] 19/11/2018 08:27

Yes at this moment in time its in their interest to keep the price low. Once the price rises past 125% of the ISP then they dont care what the price is, they will always convert at the 125% of the ISP price.........but of course then, the higher the price the more profit they make.

What needs to happen is simply, strike some oil..............then nobody will care about it.

[ianio5691] 19/11/2018 08:25

Thanks Pro..

So if I am reading that right - it is in Sandabels interest to keep the shareprice as low as possible for either 3 days prior or the day of conversion.
So they will have been shorting at the end of last week.

[neo26] 19/11/2018 08:23

Cant believe they have burnt through 8m already and still no results.

[bobby1904] 19/11/2018 08:20

Exactly! Anyone saying they were are plain and simple shorters or have no understanding of how corporate finance works or of course just total numpties!

[pro_s2009] 19/11/2018 08:19

Shares are issued at the lower price of 125% of the Initial Spot price, or the Market Price (Market price being the lowest price in the last 3 trading days).

So the CLN will be converted at the lowest closing bid price seen over the last 3 days.

If they have good luck and strike oil and the share price rises to 20p then for sure future CLN conversions would be at 125% of the Initial Spot price defined today - as that would be lower than the closing bid price at that time.


................Should conversion occur, the conversion price for any Ordinary Shares to be issued to Sandabel under a conversion notice will be the lesser of (i) 125 per cent of the Initial Spot Price ("ISP") or (ii) the Market Share Price ("MSP") and the principal amount of the facility remaining undrawn shall be increased by the pre-conversion value of the loan notes that have been converted. ISP is defined as the closing mid-price of one trading day before the Issue Date and MSP is defined as the lowest closing bid price as for the three consecutive trading days ending on the day prior to the Issue Date. ................

[ianio5691] 19/11/2018 08:14

I see we have drawn down £1m off the CLN facility.
Can't see that Sandabel were forward selling their 9.7m shares at a loss when the spot price for them is 10p....?

[bobby1904] 19/11/2018 07:36

MM's will try desperately to mark share price down at open to catch out stop loss orders and flush out the usual weak sellers who panic without thinking things through. But imo I think after an initial early drop we will see a blue day by end of today.

[bobby1904] 19/11/2018 07:20

Absolutely. They are pretty much worthless until share price is 300% up on today's level, so we will all be happy bunnies if that happens!

[luckykids] 19/11/2018 07:16

I am happy with those options certainly enough incentive. Not the usual ones below the present price